Insider Selling: Amgen Inc. (NASDAQ:AMGN) SVP Sells 1,589 Shares of Stock

Amgen Inc. (NASDAQ:AMGN) SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares in the company, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Amgen Stock Down 1.4 %

Shares of Amgen stock opened at $293.54 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The firm has a market cap of $157.79 billion, a P/E ratio of 37.59, a P/E/G ratio of 2.87 and a beta of 0.56. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The business has a 50-day moving average price of $272.04 and a 200 day moving average price of $303.51.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 168.35% and a net margin of 13.00%. On average, sell-side analysts forecast that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.24%. Amgen’s dividend payout ratio is 115.24%.

Wall Street Analyst Weigh In

A number of research analysts have commented on AMGN shares. Piper Sandler reduced their price objective on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Bank of America boosted their price objective on Amgen from $256.00 to $275.00 and gave the stock an “underperform” rating in a research note on Thursday. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Finally, TD Cowen lifted their target price on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Amgen has a consensus rating of “Hold” and a consensus price target of $313.23.

Hedge Funds Weigh In On Amgen

Several institutional investors have recently made changes to their positions in AMGN. Pathway Financial Advisers LLC grew its holdings in shares of Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after purchasing an additional 4,446,757 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Amgen by 25.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock worth $3,441,909,000 after buying an additional 2,672,975 shares during the period. International Assets Investment Management LLC boosted its position in shares of Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after buying an additional 2,486,882 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Amgen during the fourth quarter worth approximately $401,913,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Amgen by 561.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after buying an additional 1,306,982 shares during the period. 76.50% of the stock is owned by institutional investors.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.